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Another quarter decline in airline profits

GENEVA: March 09, 2017: IATA says a drop in profits for its member airlines that began in Q3 2016 continued into the last quarter, despite margins remaining at historically high levels.

KLMP747 AMS flowersAirline shares have risen by 6.8 percent over the past year, driven entirely by an 18 percent rise in the North American index. IATA's sample of 47 airlines noted a 2.0 percent drop in average EBIT to 10.2 percent compared to a year ago.

Industry-wide passenger traffic increased 9.6 percent year-on-year in January - its fastest pace since April 2011 – and global freight tonne-kilometers echoed the upswing with a 6.9 percent rise compared to 2015.

With Air France-KLM planning to reflect its cargo results as a subset of its passenger data from 2017, the airline group has reaffirmed its commitment to the flower market after carrying 60,000 tonnes of flowers from Kenya, Zimbabwe, Ecuador and Colombia to Amsterdam last year.

Over a five-week period in February and March, Air France KLM Martinair Cargo carried 5,000 tonnes of flowers to its 'Flower Hub' in partnership with Schiphol and Royal FloraHolland for final delivery to primarily Dutch, English, Italian, French, Russian and Japanese markets.

Executive vice president Marcel de Nooijer commented: "With one extra full-charter freight flight, upgrading aircraft capacity and making full use of our extensive wide-body belly passenger network, AFKLMP Cargo is proud to show our ongoing commitment and dedication to the flower business, which has a proven history over so many decades."

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